1996 Alaska Statutes
TITLE 21 INSURANCE
Chapter 21.21. INVESTMENTS
Sec. 21.21.080. State, county, municipal, and school obligations.
An insurer may invest in bonds or other evidences of indebtedness that are general obligations of this state or of another state of the United States or of a province of Canada, or of a political subdivision or all other taxing districts of these states or provinces, if the state or province
(1) is not insolvent;
(2) has the power to levy taxes for the prompt payment of the principal and interest of the obligations; and
(3) is not in default in the payment of principal or interest on its direct, general obligations at the date of the investment.
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